Remember the outrage when the Citizen’s found out that the Regulators at Fannie Mae and Freddie Mac were not only asleep at the switch but were actually fabricating accounting reports to make sure they made “bonus targets”? Where was the oversight?

Remember the outrage when the public was told that it would cost at least $1 Trillion Taxpayer Dollars to fix the mess and “buy” the “toxic mortgages”?

Remember the outrage when the Public found out that Congress had failed at its oversight responsibility? Remember how the Public was promised that the “Bailout” would be fully transparent, that like the Alaska Budget, all expenditures would be “on-line” and available for public view?

Remember when the Public was promised that the “Bailout Money” wouldn’t be used to pay “Executive Bonuses” and “Dividends”?

Barney Frank [of Fannie Mae notoriety] was joined by Rep. Christopher Shays, R-Conn., in telling “GMA” that they would insist that an oversight board be created to keep an eye on the country’s massive investment. “We will have a strong oversight board” that will report to Congress monthly, Frank said. http://abcnews.go.com/Business/Politics/Story?id=5855805&page=2

How then has almost 1/2 the “Bailout Money” been spent and Trillions in additional loans been made, without appointing a single member of the “oversight board” or hiring a single staff member. The only extraordinary thing, there is, literally and factually, no oversight.